The government is finalizing the process of re-possessing all shares in Tanzania Tele

The government is finalizing the process of re-possessing all shares in Tanzania Telecommunications Company (TTCL) after Zain pulled out of the partnership.
Communications, Science and Technology minister Peter Msolla made the remarks in Dar es Salaam yesterday when opening the TTCL Workers Council.
He said currently, Zain owned 35 per cent shares while the rest was owned by the government.
The minister said that discussions to finalize the process were underway whereby the government would buy the shares from Zain before making it a fully government-owned firm.
Currently, we are in discussions in order to reach a consensus on the matter following Zains agreement to sell its shares to the government in order to make the company more efficient, he said.
However, he noted that in order for government efforts to improve running of the company to bear fruit, major plans were underway to ensure all government institutions paid TTCL an outstanding debt amounting to 9.2bn/-.
Msolla observed that he had already issued an order to all sectoral ministries to start the payments this month.
The government plan is to ensure that TTCL runs at a profit. Thats why we have ordered all the government sectors to start paying their debts this month, he said.
He urged the council to act accordingly by advising the management to enhance and improve its efficiency so as to overcome the challenges of running the firm.
The council asked the government to offer the company guarantees so it could secure loans from domestic and foreign institutions which had shown interest in increasing its capital.